Corporate acquisition strategies and economic performance
研究了相关收购（产品/市场或技术相关）是否比不相关收购创造更高价值，发现相关收购的总收益和被收购方收益均更高，对管理者有启示。
Abstract This research investigates the conceptual argument that acquisitions which are related in product/market or technological terms create higher value than unrelated acquisitions. Related acquisitions are found to have greater total dollar gains than unrelated acquisitions. Acquired firms in related acquisitions have substantially higher gains than acquired firms in unrelated acquisitions. These findings indicate that related target firms benefit more from acquisition than unrelated target firms. Implications of these findings for managers are discussed.